The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksULE.L Share News (ULE)

  • There is currently no data for ULE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UK government approves acquisition of Ultra Electronics by Cobham

Thu, 07th Jul 2022 11:44

(Alliance News) - Ultra Electronics Holdings PLC on Thursday said that its acquisition by Cobham Group Holdings Ltd has received all antitrust and regulatory approvals.

Back in August last year, Ultra agreed to a GBP2.57 billion takeover offer from former London listing Cobham. Cobham said it would pay GBP35.00 per share in cash for Ultra.

In June, UK Business Secretary Kwasi Kwarteng launched a consultation into the undertakings offered by Cobham to acquire Ultra, which makes submarine-hunting equipment as well as control systems for the fleet of Trident submarines that carry the UK's nuclear deterrent. The deal was originally held up on national security grounds.

Aerospace contractor Cobham was a FTSE 250 company before it was bought by private equity firm Advent International in January 2020 in a controversial deal which had sparked debate over UK national security.

On Wednesday, Kwarteng gave the acquisition the green light to proceed.

The acquisition remains subject to other conditions, including sanction by the court which is expected to take place on July 28.

Shares in Ultra Electronics were up 2.2% to 3,492.00 pence each in London on Thursday around midday.

By Sophie Rose; sophierose@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
27 Sep 2021 16:03

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
24 Sep 2021 15:58

Broker tips: LondonMetric, Ultra Electronics, JTC

(Sharecast News) - Citi upgraded LondonMetric to 'buy' from 'neutral' on Friday, saying it remains confident of structural tailwinds for logistics, estimating a doubling of space requirements over around 10 years.

Read more
24 Sep 2021 09:40

LONDON BROKER RATINGS: Citi raises LondonMetric to Buy from Neutral

LONDON BROKER RATINGS: Citi raises LondonMetric to Buy from Neutral

Read more
24 Sep 2021 08:04

LONDON BRIEFING: AIM IPO gives Peel Hunt GBP280 million market value

LONDON BRIEFING: AIM IPO gives Peel Hunt GBP280 million market value

Read more
10 Sep 2021 16:10

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
19 Aug 2021 16:03

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
19 Aug 2021 13:18

CMA confirms it will investigate Cobham takeover of Ultra Electronics

(Sharecast News) - The Competition and Markets Authority confirmed on Thursday that it will investigate the proposed takeover of defence company Ultra Electronics by Cobham.

Read more
19 Aug 2021 07:39

UK govt orders probe into £2.6bn Ultra Electronics takeover

(Sharecast News) - UK Business Secretary Kwasi Kwarteng on Thursday ordered an inquiry into the proposed takeover of Ultra Electronics by Cobham Group.

Read more
18 Aug 2021 21:22

TOP NEWS: UK government orders probe into Ultra's takeover by Cobham

TOP NEWS: UK government orders probe into Ultra's takeover by Cobham

Read more
18 Aug 2021 17:27

UPDATE 2-UK to probe U.S. private equity purchase of defence firm Ultra

(Adds Advent declining to comment, background)LONDON, Aug 18 (Reuters) - Britain said it will investigate possible national security risks from the planned 2.6 billion-pound ($3.6 billion) acquisition of defence firm Ultra Electronics by rival Cob...

Read more
18 Aug 2021 17:27

UPDATE 1-UK to probe U.S. private equity purchase of defence firm Ultra

(Adds details and background)LONDON, Aug 18 (Reuters) - Britain said it will investigate possible national security risks from the planned 2.6 billion-pound ($3.6 billion) acquisition of defence firm Ultra Electronics by rival Cobham, which is own...

Read more
18 Aug 2021 16:44

UK to investigate U.S. private equity takeover of defence firm Ultra

LONDON, Aug 18 (Reuters) - Britain's government asked regulators to investigate the planned 2.6 billion-pound ($3.6 billion) acquisition of defence firm Ultra Electronics by rival Cobham, which is owned by U.S. private equity firm Advent."The UK i...

Read more
16 Aug 2021 17:01

LONDON MARKET CLOSE: Stocks slip on disappointing China economic data

LONDON MARKET CLOSE: Stocks slip on disappointing China economic data

Read more
16 Aug 2021 14:43

GRAPHIC-"UK for sale": Britain's year of private equity buyouts

By Joice Alves and Sujata RaoLONDON, Aug 16 (Reuters) - This year's unprecedented private equity buying spree in Britain is causing unease among politicians, trade unions and investors, about potential job losses and rising debt.But generous price...

Read more
16 Aug 2021 12:15

LONDON MARKET MIDDAY: Miners and oil producers drag down FTSE 100

LONDON MARKET MIDDAY: Miners and oil producers drag down FTSE 100

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.